Qualcomm FY 2026: Revenue $43.12B, Net income $13.63B, EPS $12.7— 10-K Summary

What happened

Qualcomm reported fiscal 2026 revenue of $43.12B, down 2.6% from the prior year, while net income rose to $13.63B and diluted earnings per share, or profit per share, increased to $12.7. Handset weakness weighed on revenue, partly offset by automotive and IoT growth.

Confirmed

Global impact / market context

The results show revenue declining even as reported profit and profit per share increased. For investors, the business mix matters: automotive and IoT growth partly cushioned handset weakness, while memory constraints could limit handset demand and rising semiconductor costs could pressure profit per sale.

Analyst inference

Qualcomm described both potential costs and offsets ahead: memory constraints could weigh on handset demand, while rising semiconductor costs could pressure margins, meaning the share of revenue left after costs. Management expects pricing actions to help margins in the second half of fiscal 2027.

Analyst inference

What to watch

1. Watch whether handset demand weakens as management cited memory constraints as a potential drag; weaker sales could offset growth in automotive and IoT. Analyst inference
2. Track whether automotive revenue growth and IoT expansion continue, since those businesses partly offset handset weakness in fiscal 2026. Analyst inference
3. Watch for custom silicon shipments to hyperscale customers to begin ramping from the first quarter of fiscal 2027, as management expects. Confirmed

Evidence

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